PowerDev Achieves $2.1 Million Valuation After Latest Investment Round

PowerDev, a platform established to provide insight and forecasting tools in the fields of energy project development, battery investment and energy trading by combining energy market big data from multiple sources, providing a robust SaaS data analysis tool and providing real-time data flow from over one hundred thousand energy points, received new investment that has raised its valuation to 2.1 million dollars.

PowerDev, which started to serve in the North American market and was developed in about a year, collects and organizes energy big data and provides insights as SaaS to its target customers. Alongside the enterprise core features, PowerDev also offers actionable insights and core business management features.

PowerDev Founders Mustafa Köroğlu and Mehmet Ötkün stated that it is very difficult to access scattered and irregular energy big data due to the liberalization and deregulation trends, and they said that it has become very difficult to access, process and make data-based decisions in the North American market. They collect and organize this data and provide insights as SaaS to our target customers in the energy sector and after they set off, they saw that there is a serious demand in the market for our battery module, whose analysis and modeling they have completed they added. That's why they put their battery module development forward, also on our roadmap is estimating this big data using AI/ML based algorithms. Energy project developers, battery companies and energy trading companies will increase their income and provide time and cost advantages by using their product they said.

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PowerDev Background

Adding that the magnitude of the need affects them in the North American market, Köroğlu and Ötkun said that the inadequacy of their competitors' solutions excites us and pushes us to be fast and all of the competitors are companies that offer partial solutions that were established long ago. While some of their competitors only provide data, they don't even offer a user interface to their customers. None of these competitors provide Battery modeling modules with big data, and none of them have AI-ML based predictions in their roadmaps.

In order to start a very rapid growth move in the North American market in 2023, they will spend the year 2022 with teaming, product completion, especially the battery module, and intensive sales process. They aim to close their major investment round in the first or second quarter of 2023 they said.

Köroğlu and Ötkun, who also shared the data on their startup, said that they have completed their system integration to a total of 10 ISO/RTO (Independent Service Operator/Regional Transmission Organization) in North America, they have collected 10 years of historical data. And they provided real-time data flow from over one hundred thousand energy points and again, they have significantly completed their integration with institutions such as EIA, FERC and NoAA. They collect hundreds of millions of lines of data daily with over 400 APIs and various connection methods they added. They also said that last year, they started providing services by invoicing a large North American Renewable Energy Development firm and theirr target for 2022 is to increase our repeatable sales.